News
TODAY’S DEALS: Indiana Community Sells for $37.8M
Marcus & Millichap brokers a 400-unit sale; Landmark Apartment Trust of America closes two separate acquisitions in Florida; and Berkeley Point Capital facilitates a $24.95 million refinance for a seven-year term.
Brandywine Homes to Break Ground on Calif. Community
Brandywine Homes recently closed escrow on a multifamily community in Buena Park, Calif.
Sacramento Nonprofits Obtain Funds for Multifamily Green Upgrades
The Sacramento County Board of Supervisors has approved $5.8 million, and the Sacramento City Council approved $500,000, for the rehabilitation of three multifamily properties in the city: Greenway, Glen Ellen and Los Robles Mutual Housing.
New Boston Fund Names Dan McGrath Assistant VP
Boston—New Boston Fund, Inc., a private equity real estate investment, development and management firm, announced the promotion of Dan McGrath to assistant vice president, where he will work alongside the Northeast development team and the national asset management team. McGrath was recently integrated into New Boston Fund’s development team for One Greenway, a planned 362-unit mixed-income development bordering Boston’s Chinatown neighborhood and the Rose Kennedy Greenway. The project will include 312 apartment units in a 21-story tower, along with ground floor retail and community space, a 1/3 acre of publically accessible open space and 50 affordable condominiums. As part of this…
Economy Watch: Employment Improving, But Growth Still Tepid
The monthly unemployment numbers for July were relatively weak—up 176,000 jobs—and it turns out that the previous months weren’t quite as strong as first reported, according to revisions released by the Bureau of Labor Statistics.
Bank of America Merrill Lynch Lending Up Sharply
Bank of America Merrill Lynch provided more than $1.6 billion in community development lending and investing in the first six months of 2013. The result will be the creation of more than 6,500 affordable housing units.
The Grant Given its Grand Opening in Chicago’s South Loop
The Grant, the redesigned, repositioned Chicago condominium from Related Midwest, recently celebrated its grand opening.
CriterionBrock Partners with MAB Flooring to Expand Their Growth Initiative
CriterionBrock, one of the nation’s largest multifamily housing flooring providers, has purchased the assets of MAB Flooring in Houston, TX. MAB has provided exceptional service to the Houston apartment market for over 15 years.
Hines Seals Land Deal to Develop 54-story Mixed-Use Project in Shanghai
Hines recently announced it has won the bid for a site in Shanghai’s Jing An business district.
Manulife Launches New SOM-Designed Office Project in Downtown Calgary
Manulife Real Estate has announced the development of 707 Fifth Street, an elliptical 27-story office tower slated to rise in the heart of downtown Calgary.